Insolvency and Bankruptcy Code

Group Insolvency – Proposed Framework and Its Significance

August 29, 2025

Introduction India’s business landscape is characterized by large groups of interconnected companies, including parent firms, subsidiaries, and affiliates with deeply intertwined financial and operational relationships. When a company within such a group faces insolvency, the distress often spreads throughout the network, making isolated resolutions inefficient and value-destructive. Traditionally, the Insolvency and Bankruptcy Code, 2016 (IBC)…

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Group Insolvency – Proposed Framework and Its Significance

Whether the Provisions of I&B Code, 2016 will prevail over the Customs Act, 1962 and to what extent?

Whether Government can claim Statutory Dues from Corporate Debtor, once Resolution Plan is approved by the Hon’ble National Company Law Tribunal ("Hon’ble Tribunal")?

Whether non-stamping of documents executed in a foreign country can lead to the dismissal of the Application filed under the provisions of the I&B Code?

Whether the Cheque Dishonor Proceedings initiated against the Director of a Corporate Debtor can be quashed if Moratorium is issued in favor of the Corporate Debtor under Section 14(1) of the I&B Code?

Whether the Service of Demand Notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 ("the code") through the registered E-mail ID of the Company registered with the Registrar of Companies is valid?

Whether Interest can become part of the Principal Debt to reach the minimum threshold of Rs. 1 Crore to file an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC)?

Whether Independent Directors can be prosecuted for the offences punishable under Section 138 of the Negotiable Instruments Act, 1881 (N.I. Act) under Section 141 of the N.I. Act?

Whether the Application filed under Section 9 of the I&B Code, 2016 will be maintainable if debt is barred by Limitation under Section 137 of the Limitation Act, 1963?

Whether the Insolvency & Bankruptcy Code, 2016 can dilute the rights of the Income Tax Department under Section 148 of the Income Tax Act, 1961?

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A period of limitation does not commence when the debt becomes due but only when the default has occurred.

Whether the liability arising out of the DRT Recovery Certificate qualifies as "Financial Debt" under the Insolvency and Bankruptcy Code, 2016 (IBC)?

The Applicability of Article 1 of the Limitation Act on Section 9 Application under the I&B Code.

Whether the Homebuyer would be treated as "Financial Creditor" under the Insolvency and Bankruptcy Code, 2016?

Whether Decree Holders can be Treated at Par with Financial Creditors?

Whether Superseded Directors are entitled to the CoC Meeting?

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